A robust optimization approach for index tracking problem

Index tracking is an investment approach where the primary objective is to keep portfolio return as close as possible to a target index without purchasing all index components. The main purpose is to minimize the tracking error between the returns of the selected portfolio and a benchmark. In this paper, quadratic as well as linear models are presented for minimizing the tracking error. The uncertainty is considered in the input data using a tractable robust framework that controls the level of conservatism while maintaining linearity. The linearity of the proposed robust optimization models allows a simple implementation of an ordinary optimization software package to find the optimal robust solution. The proposed model of this paper employs Morgan Stanley Capital International Index as the target index and the results are reported for six national indices including Japan, the USA, the UK, Germany, Switzerland and France. The performance of the proposed models is evaluated using several financial criteria e.g. information ratio, market ratio, Sharpe ratio and Treynor ratio. The preliminary results demonstrate that the proposed model lowers the amount of tracking error while raising values of portfolio performance measures.

The path less travelled: Vertical circulation spaces in apartment buildings in the subtropics

This paper presents data on residents’ use of common stairways and lifts (vertical circulation spaces) in multi-storey apartment buildings (MSABs) in Brisbane, Australia. Vertical movement is a defining aspect of multi-storey living and the energy consumed by lifts contributes significantly to the energy budget of the typical MSAB. The purpose is to investigate whether a reappraisal of vertical circulation design, through the lens of residents’ requirements, might contribute to energy reductions in this building type. Data was gathered on a theoretical sample of MSAB ranging from five decades old to very recent schemes. 90 residents were surveyed about their day-to-day experiences of circulation and access systems. The results showed that residents mainly chose to use the stairs for convenience and exercise. Building management regimes that limited residents’ access to collective spaces were the main impediment to discretionary stair use. Only two buildings did not have fully enclosed stairwells and these had the highest stair usage, suggesting that stair design, and building governance are two areas that might be worthy of attention. The more that circulation design is focussed on limiting access, the less opportunities there are for personal choice, incidental social interaction and casual surveillance of collective spaces. The more that design of vertical circulation spaces in MSAB meets residents’ needs the less likely they are to be reliant on continuous energy supply for normal functioning.

The path towards greening the Malaysian construction industry

Construction industry contributes significantly to environmental degradation, and governments in many countries which are endeavouring to address the situation. Malaysia is no exception. This paper examines the path towards green construction project delivery in Malaysia, focusing on current green policies and initiatives by governments. The historical waves in Malaysian approaches to tackling environmental issues are described, starting from the early 20th century, through the 1990s to the present, and the influence of these approaches on construction practices is analysed. Based on the findings of policy review, essential green construction practices aimed at mitigating the adverse effects of construction activities on the environment in Malaysia were identified. This paper paves the way for future studies in construction and sustainability in Malaysia, especially for the Southeast Asian region where sustainability practices are urgently needed.

A penalty-based genetic algorithm for the migration cost-aware virtual machine placement problem in cloud data centers

In the past few years, the virtual machine (VM) placement problem has been studied intensively and many algorithms for the VM placement problem have been proposed. However, those proposed VM placement algorithms have not been widely used in today's cloud data centers as they do not consider the migration cost from current VM placement to the new optimal VM placement. As a result, the gain from optimizing VM placement may be less than the loss of the migration cost from current VM placement to the new VM placement. To address this issue, this paper presents a penalty-based genetic algorithm (GA) for the VM placement problem that considers the migration cost in addition to the energy-consumption of the new VM placement and the total inter-VM traffic flow in the new VM placement. The GA has been implemented and evaluated by experiments, and the experimental results show that the GA outperforms two well known algorithms for the VM placement problem.

Statistical literacy in the elementary school: Opportunities for problem posing

This chapter addresses opportunities for problem posing in developing young children’s statistical literacy, with a focus on student-directed investigations. Although the notion of problem posing has broadened in recent years, there nevertheless remains limited research on how problem posing can be integrated within the regular mathematics curriculum, especially in the areas of statistics and probability. The chapter first reviews briefly aspects of problem posing that have featured in the literature over the years. Consideration is next given to the importance of developing children’s statistical literacy in which problem posing is an inherent feature. Some findings from a school playground investigation conducted in four, fourth-grade classes illustrate the different ways in which children posed investigative questions, how they made predictions about their outcomes and compared these with their findings, and the ways in which they chose to represent their findings.

Bridging STEM in a real-world problem

Engineering-based modeling activities provide a rich source of meaningful situations that capitalize on and extend students’ routine learning. By integrating such activities within existing curricula, students better appreciate how their school learning in mathematics and science applies to problems in the outside world...

Problem solving in a 21st century mathematics curriculum

Research on problem solving in the mathematics curriculum has spanned many decades, yielding pendulum-like swings in recommendations on various issues. Ongoing debates concern the effectiveness of teaching general strategies and heuristics, the role of mathematical content (as the means versus the learning goal of problem solving), the role of context, and the proper emphasis on the social and affective dimensions of problem solving (e.g., Lesh & Zawojewski, 2007; Lester, 2013; Lester & Kehle, 2003; Schoenfeld, 1985, 2008; Silver, 1985). Various scholarly perspectives—including cognitive and behavioral science, neuroscience, the discipline of mathematics, educational philosophy, and sociocultural stances—have informed these debates, often generating divergent resolutions. Perhaps due to this uncertainty, educators’ efforts over the years to improve students’ mathematical problem-solving skills have had disappointing results. Qualitative and quantitative studies consistently reveal mathematics students’ struggles to solve problems more significant than routine exercises (OECD, 2014; Boaler, 2009)...

Predicting the speed of a Wave Glider autonomous surface vehicle from wave model data

A key component of robotic path planning is ensuring that one can reliably navigate a vehicle to a desired location. In addition, when the features of interest are dynamic and move with oceanic currents, vehicle speed plays an important role in the planning exercise to ensure that vehicles are in the right place at the right time. Aquatic robot design is moving towards utilizing the environment for propulsion rather than traditional motors and propellers. These new vehicles are able to realize significantly increased endurance, however the mission planning problem, in turn, becomes more difficult as the vehicle velocity is not directly controllable. In this paper, we examine Gaussian process models applied to existing wave model data to predict the behavior, i.e., velocity, of a Wave Glider Autonomous Surface Vehicle. Using training data from an on-board sensor and forecasting with the WAVEWATCH III model, our probabilistic regression models created an effective method for forecasting WG velocity.

What triggers problem recognition? An exploration on young Australian male problematic online gamers

Help-seeking is a complex decision-making process that first begins with problem recognition. However, little is understood about the conceptualisation of the helpseeking process and the triggers of problem recognition. This research proposes the use of the Critical Incident Technique (CIT) to examine and classify incidents that serve as key triggers of problem recognition among young Australian male problematic online gamers. The research provides a classification of five different types of triggers that will aid social marketers into developing effective early detection, prevention and treatment focused social marketing interventions.

Medical free-text to concept mapping as an information retrieval problem

Concept mapping involves determining relevant concepts from a free-text input, where concepts are defined in an external reference ontology. This is an important process that underpins many applications for clinical information reporting, derivation of phenotypic descriptions, and a number of state-of-the-art medical information retrieval methods. Concept mapping can be cast into an information retrieval (IR) problem: free-text mentions are treated as queries and concepts from a reference ontology as the documents to be indexed and retrieved. This paper presents an empirical investigation applying general-purpose IR techniques for concept mapping in the medical domain. A dataset used for evaluating medical information extraction is adapted to measure the effectiveness of the considered IR approaches. Standard IR approaches used here are contrasted with the effectiveness of two established benchmark methods specifically developed for medical concept mapping. The empirical findings show that the IR approaches are comparable with one benchmark method but well below the best benchmark.

Post-transcriptional regulation in the nucleus and cytoplasm: study of mean time to threshold (MTT) and narrow escape problem

Messenger RNAs (mRNAs) can be repressed and degraded by small non-coding RNA molecules. In this paper, we formulate a coarsegrained Markov-chain description of the post-transcriptional regulation of mRNAs by either small interfering RNAs (siRNAs) or microRNAs (miRNAs). We calculate the probability of an mRNA escaping from its domain before it is repressed by siRNAs/miRNAs via cal- culation of the mean time to threshold: when the number of bound siRNAs/miRNAs exceeds a certain threshold value, the mRNA is irreversibly repressed. In some cases,the analysis can be reduced to counting certain paths in a reduced Markov model. We obtain explicit expressions when the small RNA bind irreversibly to the mRNA and we also discuss the reversible binding case. We apply our models to the study of RNA interference in the nucleus, examining the probability of mRNAs escaping via small nuclear pores before being degraded by siRNAs. Using the same modelling framework, we further investigate the effect of small, decoy RNAs (decoys) on the process of post-transcriptional regulation, by studying regulation of the tumor suppressor gene, PTEN : decoys are able to block binding sites on PTEN mRNAs, thereby educing the number of sites available to siRNAs/miRNAs and helping to protect it from repression. We calculate the probability of a cytoplasmic PTEN mRNA translocating to the endoplasmic reticulum before being repressed by miRNAs. We support our results with stochastic simulations

LiDAR Augmented Optimal Path Planning for Unmanned Aerial Vehicle during Remote Sensing at Low Altitude and Network Sensor Data Acquisition

This technical report describes a Light Detection and Ranging (LiDAR) augmented optimal path planning at low level flight methodology for remote sensing and sampling Unmanned Aerial Vehicles (UAV). The UAV is used to perform remote air sampling and data acquisition from a network of sensors on the ground. The data that contains information on the terrain is in the form of a 3D point clouds maps is processed by the algorithms to find an optimal path. The results show that the method and algorithm are able to use the LiDAR data to avoid obstacles when planning a path from a start to a target point. The report compares the performance of the method as the resolution of the LIDAR map is increased and when a Digital Elevation Model (DEM) is included. From a practical point of view, the optimal path plan is loaded and works seemingly with the UAV ground station and also shows the UAV ground station software augmented with more accurate LIDAR data.

Palliative care problem severity score: Reliability and acceptability in a national study

Background The Palliative Care Problem Severity Score is a clinician-rated tool to assess problem severity in four palliative care domains (pain, other symptoms, psychological/spiritual, family/carer problems) using a 4-point categorical scale (absent, mild, moderate, severe). Aim To test the reliability and acceptability of the Palliative Care Problem Severity Score. Design: Multi-centre, cross-sectional study involving pairs of clinicians independently rating problem severity using the tool. Setting/participants Clinicians from 10 Australian palliative care services: 9 inpatient units and 1 mixed inpatient/community-based service. Results A total of 102 clinicians participated, with almost 600 paired assessments completed for each domain, involving 420 patients. A total of 91% of paired assessments were undertaken within 2 h. Strength of agreement for three of the four domains was moderate: pain (Kappa = 0.42, 95% confidence interval = 0.36 to 0.49); psychological/spiritual (Kappa = 0.48, 95% confidence interval = 0.42 to 0.54); family/carer (Kappa = 0.45, 95% confidence interval = 0.40 to 0.52). Strength of agreement for the remaining domain (other symptoms) was fair (Kappa = 0.38, 95% confidence interval = 0.32 to 0.45). Conclusion The Palliative Care Problem Severity Score is an acceptable measure, with moderate reliability across three domains. Variability in inter-rater reliability across sites and participant feedback indicate that ongoing education is required to ensure that clinicians understand the purpose of the tool and each of its domains. Raters familiar with the patient they were assessing found it easier to assign problem severity, but this did not improve inter-rater reliability.

Comparison of active-set method deconvolution and matched-filtering for derivation of an ultrasound transit time spectrum

The quality of ultrasound computed tomography imaging is primarily determined by the accuracy of ultrasound transit time measurement. A major problem in analysis is the overlap of signals making it difficult to detect the correct transit time. The current standard is to apply a matched-filtering approach to the input and output signals. This study compares the matched-filtering technique with active set deconvolution to derive a transit time spectrum from a coded excitation chirp signal and the measured output signal. The ultrasound wave travels in a direct and a reflected path to the receiver, resulting in an overlap in the recorded output signal. The matched-filtering and deconvolution techniques were applied to determine the transit times associated with the two signal paths. Both techniques were able to detect the two different transit times; while matched-filtering has a better accuracy (0.13 μs vs. 0.18 μs standard deviation), deconvolution has a 3.5 times improved side-lobe to main-lobe ratio. A higher side-lobe suppression is important to further improve image fidelity. These results suggest that a future combination of both techniques would provide improved signal detection and hence improved image fidelity.

On an unexpected career path? Using Wittgenstein’s Family Resemblance concept to determine the power of projects to transform project management careers

The power of projects has been demonstrated by the growth in their use across an increasing range of industries and workplaces in recent years. Not only has the number of people involved in project management increased, but the qualifications and backgrounds of those people have also broadened, with engineering no longer being the only path to project management (PM). Predicting the career trajectories in Project Management has become more important for both organisations employing project managers and project managers building career portfolios. Our research involved interviewing more than 75 project officers and project managers across a range of industries to explore their career journey. We used Wittgenstein’s family resemblance theory is to analyse the information from the transcripts to identify the extent to which the roles of participants fit with the commonly accepted definition of project management. Findings demonstrate diversity of project manager backgrounds and experiences and relational competencies across these backgrounds that form and shape PM careers.